Gibraltar’s application to establish a World Trade Center (WTC) was approved by the World Trade Centers Association (WTCA) at the conclusion of its Annual General Assembly in Beijing, China, in October of last year. This gives Gibraltar the 335th licence to be awarded across the globe to develop international trade.
Brian Stevendale, World Trade Center (WTC) Gibraltar’s Business and Development Director, comments. “Given current economic challenges, we believe that Gibraltar will gather a lot of interest at MIPIM and stand out as an exceptional investment prospect. With over 99% of office space in Gibraltar currently either sold or let, there is huge demand for this WorldTradeCenter particularly given our beneficial tax environment. Gibraltar offers the best, or equal best, tax environment in the EU including a new 10% low headline rate of Company Tax. There is no Capital Gains Tax, no Wealth Tax, no Inheritance Tax, no Sales Tax, no Stamp Duty on share transfers and no exchange controls. We are fully compliant with EU financial services regulation and ‘passporting’ allows firms and certain funds to offer their services and products throughout Europe on the basis of their Gibraltar licence.”
The Rock’s business friendly appeal doesn’t stop there. Gibraltar has political and economic stability (5% GDP growth for year-end March 2010 and an all-time high budget surplus of nearly 10% of overall Government expenditure) and an English common law legal system. Gibraltar’s geographic location brings an advantageous time zone and proximity to investors and partners for face-to-face meetings. Personal lifestyle is also of a high quality with the award-winning marina resort of OceanVillage in particular attracting many high net worth individuals to its sumptuous residential towers complete with Health Club, swimming pools, bars, restaurants, premier yacht berths and Gibraltar’s only casino on the doorstep.
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. It is a peninsula of 6.843 square kilometres (2.642 sq mi) whose isthmus connects to the north with Spain. The Rock of Gibraltar is the major landmark of the region. At its foot is the densely populated city area, home to almost 30,000 Gibraltarians and other nationalities.
